From the Chief Editor's Desk: The Interests of Common Man in the Context of Financial Management
The Meaning of Money in Life
Life can be challenging when there is dearth of money. On the other hand, if there is excess of money and no wisdom to handle it efficiently, it can also lead to innumerable challenges. In spite of this strange situation, since times immemorial, there has been a tradition of searching for the meaning of life in money. The science related to wealth is called Economics. Our rishis of yore integrated money with the three other purusharthas (endeavors) to form Purushartha Chatushtaya (The four endeavors) — Dharma, Artha, Kama and Moksha. The manner in which it is defined implies that money that is earned through righteous means (dharma) is appreciated while the money that is devoid of dharma is rejected.
In the history of human evolution, when money had to be represented through physical means, it started first with the exchange of material things (barter system), followed by the era of gold coins and then silver coins. In the modern age, it is being represented by watermarked paper or currency notes.
There are many anecdotes in Vedas and Puranas. Srimad Bhagwad Gita, which is the source of wisdom to sadhus, sanyasis and renunciates, Lord Krishna counts 'Arthaarthi' (one who turns to the Divine to get wealth) amongst his devotees. Goddess Mahalakshmi is the presiding deity of wealth. Kubera, the lord of Yakshas, is the deity of wealth accumulation. He holds the position of Dhanadeesh (the lord of wealth). Even the most ascetic and the epitome of Yoga and Knowledge — Lord Shiva — considers Kubera his friend. In the Bhagawad Gita, Lord Krishna mentions Kubera as one of his manifestations. The deity who has the authority to punish or appreciate when it comes to money-related matters is Lord Saturn (Shani). Those who utilize their money for noble purposes and for the service of the downtrodden will always be in the good books of Lord Shani and enjoy prosperity.
It is indeed surprising to note that while vast majority of people yearn for wealth and find their life meaningless without the same, they hardly understand its true meaning. Financial management has emerged as the main topic in both electronic and print media. Several economic issues are discussed in the media every day. Experts in financial management and renowned economists together discuss compelling issues related to Sensex, share market, import-export etc. Be it a farmer in the village or a normal salaried person, they are initially uninterested in these discussions. The experts participating in these discussions are not concerned about whether or not what they are talking about makes sense to the common man. In the entire gamut of knowledge related to financial management, common man has probably been able to understand just one word — 'mehenggaai' (price rise, inflation). There is probably not a single person in our country who does not understand this word.
The Need of the Hour is an Economic Vision in Line with the Present Times
When day to day life of an ordinary man is closely linked to money, the economic vision should also be created as per the needs of this era. A financial vision, that gives a clear understanding of money in the context of spiritual, individual, familial and social life, should be brought forth. If this training is planned and executed properly, then neither will anyone be cheated nor will anyone dare to cheat. Everybody starting from housewives to laborers, farmers and school children will learn about the right means of earning money, right spending and resource management.
Yugrishi Pandit Shriram Sharma Acharya, in his writings, has provided guidance on all aspects of financial life discussed so far. He has spoken and written extensively on all financial needs in the life of a common man. This guidance can provide the fundamental intellectual basis for research and study on financial management with common man as the focus.
Scholars of Dev Sanskriti University have been thinking, discussing and brainstorming on this topic for a long time now. The conclusion that has emerged is that we should formulate a system for financial management based on the principles given by Param Pujya Gurudev. A thorough research should be done on all the issues that affect the interests of the common man.
Spirituality cannot blossom in financial ignorance; only poverty can flourish. Similarly, even while a person is financially well-informed, he neither knows how to spend it wisely nor organizes it well. Thus meaningless spending and misuse of money continues unabated. Noble tendencies and inclination to service are also developed when one is good in managing his finances.
Financial Affairs of the Common Man
Savings are as important as budget. They play an important role in the financial affairs of the common man. How to save and where to invest money? There are many government and private means of protecting and enhancing your savings. Whatever options are available should be inspected and whatever is not evident should be searched for.
It is quite natural for exigencies to arise in the life of a common man. Handling them efficiently requires money. This sudden surge in requirement usually prompts them to do things that they repent later. If everyone is aware of planning for emergencies, then many a challenge can be easily handled.
Param Pujya Gurudev gave us a vision of a glorious future for the 21st century. One of the pillars of that vision is to develop an economic vision and training that will reach each and every household in the country. If the situation is bad, its all-encompassing effect can pollute the atmosphere in the society. People tend to become pessimistic and get addicted to various vices. Hence, deep understanding of the financial interests of the common man is essential. Only when this responsibility is shouldered by financial experts will they fulfill their fundamental objective — making the science of economics truly meaningful: 'Economy is the art of making the most of life.'
(Pranav Pandya)
"Spirituality and science attempt to understand reality in the universe; while one (spirituality) explores the inner world, the other (science) explores the outer world." — Vijaya Pandurang Bhatkar, architect of India's first supercomputer PARAM 8000
"Science and Truth are simple phenomenon of nature, but it is the known that is preventing us from mastering the unknown." — Chandrakanth Natekar